3-D printer maker ExOne forecasts lackluster full-year sales, shares drop

Reuters News
Posted: Aug 13, 2013 6:36 PM

(Reuters) - ExOne Co <XONE.O>, which makes 3-D printers, reported second-quarter sales below analysts' estimates and forecast 2013 revenue at the lower end of its guidance, hurt by a weak Yen.

The company's shares fell 17 percent after closing at $75.67 on the Nasdaq on Tuesday.

For the second quarter, net loss narrowed to $1.1 million, or 8 cents per share, from $3.6 million.

Revenue almost doubled to $9.2 million from $4.7 million a year earlier as the company sold more of its 3-D printing machines. Analysts had expected a loss of 6 cents on revenue of $9.3 million.

ExOne has previously forecast revenue of between $48 million to $52 million for 2013, while analysts were expecting $50.5 million, according to Thomson Reuters I/B/E/S.

The company, which went public in February this year, generated about 73 percent of its revenue from outside the United States last year.

(Reporting By Lehar Maan in Bangalore; Editing by Sreejiraj Eluvangal)